Delay in paying KPERS liability would cost state extra $3.7 billion
Delay in paying Kansas public pension liability would cost state an extra $3.7 billion, director says | The Kansas City Star
Bonding KPERS debt is not the solution April 1, 2013 Bob Weeks Leave a comment The Kansas House has passed, and now the Senate Ways and Means Committee will consider HB 2403 , captioned "Issuing $1,500,000,000 of pension obligation bonds to finance a portion of the unfunded actuarial liability of KPERS."
In 2015, the State of Kansas sold $1 billion in pension obligation bonds, and. As result of earlier nonpayment and funding delays, the KPERS'. between the actuarial value of assets and the actuarial liability. very favorably with regard to cost.. financial statements reflect the resources available to pay.
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Money for the new hires is included in the county government’s proposed $4.97 billion budget. benefits and lowering costs. Assuming the budget is approved, as is expected, the county’s employee.
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Pension payment data collected from the kansas public employee retirement System (KPERS) in an Open Records request includes 1,690 state and local government retirees who will collect more than $1 million in taxpayer-funded pension payments over their first 20 years of retirement. The number of taxpayer-funded pension ‘millionaires’ is up by 213 from last year’s total of 1,477
Brownback plan would increase KPERS costs by $6.5 billion over time. Brownback wants to slow down the state's pension payment schedule to save money as the state faces. kpers has an $8.5 billion unfunded liability.
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. ý Yes ¨ No Indicate by check mark if the registrant is not required to file.
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It says the changes in pension plans would generate enough money to absorb the cost. Paying those bills without the help of local districts would require the state to find $1.53 billion in.
The governor seeks to delay payments intended to shore up the state’s pension system to save money in the short term. The kansas public employees retirement System faced an unfunded liability of $9.8 billion at the beginning of 2014. The state was on pace to pay it down to zero by 2033 because of reforms enacted during Brownback’s first term.